President Says All 10 Drugs Targeted For The First Medicare Price Negotiations Will Participate
October 3, 2023 8:44AM AKDT
Credit: MGN
WASHINGTON (AP) — President Joe Biden has announced that the manufacturers of all of the first 10 prescription drugs selected for Medicare’s first price negotiations have agreed to participate.
Tuesday’s announcement clears the way for talks that could lower their costs in coming years and give Biden a potential political win heading into next year’s election.
The White House says 9 million seniors and other Medicare beneficiaries paid more than $3.4 billion on these 10 drugs alone last year.
The Centers for Medicare and Medicaid Services announced in August the first 10 drugs selected for the negotiation process and said manufacturers had until Monday to agree to participate and submit manufacturer-specific data.
